“The iron rule of nature is, you get what you work for. If you want ants to come, you put sugar on the floor.” Wise words of renowned American billionaire investor and business guru, Charles Thomas Munger. Over the years Charlie has shown us exactly how much putting baiting the target is ultimately the secret tool for success.
Big-time Investor, one-time Real Estate Attorney, Author and Publisher, Business Mogul, United States Army Lieutenant, and even a Meteorologist, Charlie scales through life with so much recorded success. The 98years old was born in Omaha, Nebraska, and settled in Pasadena, California where he built an outstanding portfolio and made his way to establishing a hardrock legacy for himself.
Charlie is a philanthropist and has been a benefactor for the University of Michigan, where he studied mathematics before dropping out to join the military. He is also a benefactor to the University of Stanford, which is the alma mater to both his daughter and now late wife, amongst others. He studied law at Harvard University before delving into the world of business.
|Real Name/ Full Name:||Charles Thomas Munger|
|Birth Date||January 1, 1924|
|Birth Place:||Omaha, Nebraska, U.S|
|Weight:||154 lbs (70kg)|
|Wife and Spouse:||Nancy Jean Huggins, Nancy Barry Borthwick|
|Profession:||Businessman and Investor|
|Net worth (2021):||$2.5 billion|
|Last Updated:||January 2022|
Charlie Munger Net Worth & Salary
Charles Munger’s net worth is estimated to be $2.3 billion and his annual earnings is estimated to be about $100,000.
Early Life of Munger
Charles Thomas Munger was born into the family of the late Mr. Alfred C. Munger and the late Mrs. Florence Munger on 1 January 1924. His father, Mr. Alfred was a Lawyer and his grandfather, Thomas Charles Munger, was a U.S district court judge and state representative. Growing up, Charlie worked in Buffet and Sons, a grocery store owned by Warren Buffet’s grandfather.
He attended college at the University of Michigan, to study mathematics, and at the age of 19 dropped out of college to serve in the U.S Army Air Corps during which he became a second lieutenant. After his impressive performance on the Army General Classification Test, he was ordered to study Meteorology at Pasadena in California.
He took advanced courses from various universities to keep up with his education, one of such is the California Institute of Technology. He applied to Harvard Law School, his dad’s alma mater, and was rejected because he had not graduated college. Through a favor from the former dean of Harvard Law and close family friend, Roscoe Pound, Charles got admitted into Harvard Law School and eventually graduated magna cum laude with a J.D in 1948.
In the military, he learned to play cards. And at Harvard, he found a new hobby- the stock market. This gave him valuable strategic insight for his new life after college that he’d learned from practical card games
Personal Life of Munger
Munger got married to the late Mrs. Nancy Jean Huggins in 1945 and had three kids, Wendy Munger, Molly Munger and Teddy Munger. Unfortunately, Teddy was lost at the tender age of 9 to leukemia. Nancy and Charlie were married for 8 years and got divorced in 1953.
However, Charlie got married again in 1956 to Nancy Barry and moved to California were they settled in the city of Panama. Charlie and Nancy remained married till she passed on February 6, 2010. During the 54 years of their marriage, Charlie and Nancy produced 4 children; Charlie T Munger, Emilie Munger ogden, Barry A. Munger, and Philip R. Munger.
Nancy Barry had two sons from her previous marriage: William Harold Borthwick and David Borthwick and Charles co-parented and assisted in raising the boys. In total Charles had a total of 9 kids, 2 of which are his step kids.
In his 50s, Munger underwent surgery for a cataract, but the operation failed and left him with only one healthy eye. After years of decreased vision and severe pain in his remaining good eye, Munger had it removed to save himself from potential blindness.
Age, Height and Weight of Munger
Munger is 98 years, 1.80m tall and weighs about 154 pounds(70kg).
Career of charlie Munger
After Law School, He got a job at Wright and Garrett, a major Law firm in California right after moving to the City with his family.
In 1962, Charles became a founding partner of Munger, Tolles and Olson LLP where he worked as a real estate attorney.
Being Charles Thomas Munger is as synonymous as being the Vice president of the famous Berkshire Hathaway, which implies that he may as well be the “Robin” to Warren Buffet who is the chairman and CEO of Berkshire Hathaway. The synonimity extends to owning his own investment firm, newspaper publisher and publicly traded company, The Daily Journal, where he is the Chairman.
Charles met Warren Buffet in 1959, in Omaha Nebraska, where he grew up. They had a couples dinner together at Jonny’s cafe and connected. While bonding, they discovered they had both worked at Buffet’s grandfather’s grocery store but never met as the timeline was different. Charles Munger is 6 years older than Warren Buffet.
Soon afterward, the two men partnered together and Munger was appointed the Vice-chairman of Berkshire Hathaway and has ever since worked hand in hand with Buffet up until today. Charles is often referred to as Warren’s right-hand man and as popularly implied, he is thought to be the brains behind the scenes. Warren regards Charlie as his partner and the mutual respect is ever evident and Berkshire Hathaway. Inc continues to boom and remains one of the top investing firms.
From 1984 up until 2011, he served as the CEO and Chairman of Wesco Financial Corporation. This company later became a subsidiary of Berkshire Hathaway Inc., and he is also on the board of directors for Costco Wholesale Corp.
Awards and Achievements
Charles Munger is a major benefactor to his alma mater, the University of Michigan, and has served as a trustee of the Harvard-Westlake school.
He has also made millions of dollars in donations to the Kvali Institute for Theoretical Physics at the University of California, Santa Barbara.
If you ever wonder what Charles Thomas Munger is up to, well there is only one answer to that, making more money! The Bigtime Investor over the years has laid down sugar baits and the ants just keep crawling.